Ukraine has risen in the ranking of budget transparency

Украина поднялась в рейтинге бюджетной прозрачности

Ukraine improved its position in the “budget” rating

Ukraine ranks 39th among the 115 countries of the world in the international ranking of budget transparency. This is 18 positions better than last year.

In the international ranking of budget transparency, which amounted to an international organization International Budget Partnership, Ukraine ranks 39th among the 115 countries of the world. This was announced by the expert of the International Budget Partnership in Ukraine Volodymyr Tarnay, writes UNIAN.

According to him, the Index of budget transparency in 2017 swept the data of 115 countries in the world, and is the only worldwide ranking which assesses budget transparency.

“Ukraine this year has made a step towards financial transparency, and we managed to improve its ranking by 14%, which gave an increase of 18 positions in the ranking. And as of today, we occupied 39 place in the world in financial transparency,” he said.

Tarnay noted that indicators of Ukraine is comparable to East European countries, and the resulting place in the ranking corresponds to the order of the Ministry of Finance to enter the top 40 on budget transparency.

According to experts, to further improve its positions in the rating of our country, it is advisable to develop and implement a process of adjusting the budget to provide an independent audit of the accounting chamber, as well as to introduce mechanisms for public discussion and the Executive in the planning and execution of the state budget.

In turn, the first Deputy Minister of Finance of Ukraine Oksana Markarova said that the high level of budget transparency to minimize abuse and corruption in this area.

“In the last three years we have achieved much: we went back to complete the review of the budget, and for the second year budget is not only timely, but also with all related documents and Analytics” she said.

According to Markarova also a significant increase in budget transparency was made possible thanks to the creation of a portal for the use of budget funds.

“Today, after two years of work portal, we can confidently say that this is the largest base of public Finance in Ukraine. She works 24/7. More than 20 thousand users use the portal daily. Its use is free and always will be. This database already has 74.5 million of transactions,” she added, noting that currently, the portal was 93% of administrators and recipients of budgetary funds, judging by the amount of payments and 99.3% of state enterprises, the quality of data is checked by comparison with data of the state Treasury and periodic inspections.

Markarov also said that the establishment of a portal of public Finance, which is a database of budget costs, it was only the first step and now the next phase will be an open budget data on the budget revenues, financing and borrowing.

We will remind, in the evening of 7 December 2017 the Verkhovna Rada in the second reading and generally supported the state budget of Ukraine for the year 2018.

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